Previous Week Update:

  • Before:

USDJPY Update.PNG

  • After:

USDJPY Update 1.PNG

Followed B nicely but did not break the 113.200 resistance and is still ranging but in a bigger range. Be ready to see which way it breaks out and trade that way.


Upcoming USD News:

  • Thursday
    • FOMC Meeting Minutes
    • PPI m/m
      • Previous: 0.2%
      • Forecast: 0.4%
    • Unemployment Claims
      • Previous: 260K
      • Forecast: 255K
    • Crude Oil Inventories
      • Previous: -6.0M
  • Friday
    • CPI m/m
      • Previous: 0.4%
      • Forecast: 0.6%
    • Core CPI m/m
      • Previous: 0.2%
      • Forecast: 0.2%
    • Core Retail Sales m/m
      • Previous: 0.2%
      • Forecast: 0.9%
    • Retail Sales m/m
      • Previous: -0.2%
      • Forecast: 1.5%

Monthly: Monthly end very bullish. I see possibilities of wick fills on the left. Reaching price around 114. This week should tell us where price wants to go. NFP was bad and unemployment was really good, best its been since 2001, so lets see what happens.

USDJPY Monthly.PNG

Weekly: Weekly closed exhausted, with a bearish pin bar, but this does not confirm a bear trend. In addition, it could be forming a lower high and be a 3rd touch on the trendline. Let’s see how this week ends to get finally confirms.

USDJPY Weekly.PNG

Daily: NFP week was pure consolidation, will be interesting to see where we will break out and trade that way. We are heavily resisting 113 price level, so we could potentially go lower to the first red line, then either bounce or break.

USDJPY Daily.PNG

H4: I pointed our ranging zone, we wait for a break and trade that way. NFP week as you see was purely just ranging, so where we break out will be very nice and start our trending markets.

USDJPY H4.PNG


Overall USDJPY Analysis

NFP was bad, unemployment was good, price is still in the ranging zone. Do I know where it is going to go? No. So, wait for market structure and price action confirm then take your trades or trade the zone if you want, but that is not in my trading plan.


Predicted movement:USDJPY Prediction

Breakout is coming, we just waiting patiently and trade where ever price wants to go.


In Addition:

I hope many of you stayed safe during NFP, and no one got the blown account because of their greed. But if you did, keep your head up. It will be fine, what money you lost was just a tuition fee to Forex Univeristy. Be persistent, and manage your risks and stick to your plan accordingly.

Telegram just search: cyimfx